The Importance of Understanding Inflation

Since 2008, the rate of inflation has been higher than the rate of interest. But now it's actually more insidious because it feels like you're getting money in the bank. So I do think inflation clearly is going to come down from where it is. But whenever you see a bank of England projection, wherever happens, always by the end of the graph, it ends up packet two. We don't know what it'll be. It's hard to see that interest rates will fall so quickly.